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As corporate business financial analyst, you will need to have a clear understanding of the different types of costs (variable, fixed, and mixed) that the
As corporate business financial analyst, you will need to have a clear understanding of the different types of costs (variable, fixed, and mixed) that the company carries. Complete the following for this assignment:
- Review EEC's journal activity.
- Define and identify its variable, fixed, and mixed costs.
- Determine what affect a sales volume increase or decrease will have on unit fixed cost, unit variable cost, total fixed cost, and total variable cost.
Part 2 As an EEC corporate business financial analyst, you must have an expert understanding of the various costing methods. Select 1 of the following costing concepts:
- Full costing or absorption costing
- Variable costing
- Target costing
- Life cycle costing
- Activity-based costing
Activity | ||
1 | Sales not on account | $29,440 |
2 | Sales on account | 28,060 |
3 | Selling Expense | 3,220 |
4 | Administrative Expense | 6,210 |
5 | Supplies Factory | 3,450 |
6 | Insurance Factory | 920 |
7 | Indirect Labor | 6,900 |
8 | Factory Salaries | 288 |
9 | Factory Property Tax | 173 |
10 | Maintenance Expense Factory | 2,001 |
11 | Depreciation Expense Factory | 3,726 |
12 | Utilities Factory | 828 |
13 | Purchases of Raw Materials | 17,250 |
14 | Direct Labor Factory | 3,450 |
15 | Raw Material Inventory, January 1 | 2,070 |
16 | Raw Material Inventory, December 31 | 1,380 |
17 | Work in Process Inventory, January 1 | 4,140 |
18 | Work in Process Inventory, December 31 | 2,300 |
19 | Finished Goods Inventory, January 1 | 5,980 |
20 | Finished Goods Inventory, December 31 | 4,830 |
21 | Bad Debt Expense | 276 |
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